Why the gold price keeps moving
Gold trades around the clock: as Asia closes, Europe opens, then New York. The price reacts to interest rates, exchange rates, inflation expectations and political events. For you that means the value of a piece is not a fixed figure but follows the world market.
From world market price to the price in store
The world market price applies to pure fine gold (999.9) per troy ounce, that is per 31.1035 grams. Jewellery is an alloy: 585 gold contains 58.5 percent fine gold, 916 around 91.6 percent. The pure material value follows from this – you can work it through yourself in our value calculator. When selling, refining costs and the trade margin come on top; when buying, the craftsmanship does.
The euro plays its part
The international gold price is quoted in US dollars. For the price in euros the exchange rate matters too: a weaker euro makes gold more expensive here even if the dollar price is unchanged. The currency converter on this page shows current reference rates.
What this means for your decision
Daily swings of a few euros per gram are normal and cannot be predicted reliably. If you are selling, keep an eye on the rate but do not wait for the perfect day. If you are buying, look at the make, the fineness and the premium rather than the daily rate – see bars or coins.